SPACSphere Acquisition prices $150 million IPO, led by veterans Bala Padmakumar and Soumen Das
IPO Overview
SPACSphere Acquisition, a blank check company led by SPAC veteran Bala Padmakumar targeting digital assets, technology, and healthcare, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock, one-half of one redeemable warrant exercisable at $11.50, and one right to receive one-fifth of one common stock upon the consummation of an initial business combination.
The company is led by CEO and Chairman Bala Padmakumar, who served as the CEO and Chairman of ChampionsGate Acquisition （CHPGU; +2.9% from offer price）， Chairman of Four Leaf Acquisition （FORL; +17.5%） which has a pending merger agreement with Chinese car wash chain Xiaoyu Dida Interconnect International, and former CEO and Chairman of Monterey Capital Acquisition through its merger with ConnectM Technology Solutions （CNTM; -97%）。 He is joined by CFO Soumen Das, the Director of Finance for Meditab Software and CFO of DosePacker Inc., and former Director of Capital Markets at VIKASA Capital, where he advised Stardust Power （SDST; -65.1%） on its merger with Global Partner Acquisition II.
The SPAC plans to target industries where its executives have core competencies and experiences, such as digital assets, technology, and healthcare industries.
The Sacramento, CA-based company was founded in 2025 and plans to list on the Nasdaq under the symbol SSACU. D. Boral Capital acted as sole bookrunner on the deal.
About the Company
We are a blank check company. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us. SPACSphere Acquisition Corp. intends to identify and acquire a business within an industry or sector that complements the experience of our management team and can benefit from our operational expertise. We will have a generalist approach to industry sectors, but with particular emphasis on industries where we have core competencies and experiences, such as digital assets, technology, and healthcare industries. However, we may pursue an initial business combination opportunity in any industry or sector （subject to certain limitations described in this prospectus）。 Our management team and board consist of seasoned industry executives that possess deep collective understanding of various industries, including the digital assets, technology, and healthcare industries, as well as the evolution of these sectors and market opportunities.